EFG receives EGP 450 mn subscription requests for “Mazid” fund

Our friends at EFG Hermes have received EGP 450 mn-worth of subscription applications for investment certificates issued by the “Mazid” open-ended money market fund, head of asset management at EFG Nabil Moussa said. The firm accepted EGP 250 mn-worth of applications for the fund, which it manages for Emirates NBD. The Mazid fund “invests in a variety of short-term debt securities such as treasury bills and bonds & time deposits,” according to Emirates NBD’s website.